Discussing Real Estate FAQ's On Air
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Today I thought I would share with you guys some snippets of an interview I did on the radio recently. I shared a lot of information on a lot of different topics, but here are some of the highlights:
Affordability
We are now in a 2nd year of improving market conditions. With interest rates right around the 4% mark, now is a great time to buy a home. Our market is one of the most affordable markets in the country.
Buyers or Sellers Market?
When determining whether we are in a buyers or sellers market, the main variable that comes into place is the absorption rate, or how long it would take to sell all the inventory we have if no new homes came on the market. Right now, we are at 4 months. This actually puts us in more of a balanced market than anything else. It’s not a hot seller’s market, but there is not enough inventory for it to be considered a buyer’s market either.
Pre-Approval
In my opinion, pre-approval is about as important as the decision to buy a home. When you decide to sell your home and purchase a new one, you have to be pre-approved because if we sell your home quickly, you won’t be able to get a new home right away.
The way you prefer your home isn't necessarily the way the broad market will appreciate it.
Finding the Right Agent
When you are deciding on the right agent to hire, throwing in a question like “How long have you been in the business?” or “How well will you negotiate for me?” will give you insight to an agent’s experience, skill, and strategy. The more you have been in business, the better you are at negotiating. A strong negotiator is invaluable.
Staging
When you prepare a home for sale, you need to stop looking at your home as your home and start looking at it like a home you want to sell. The way you prefer your home isn’t necessarily the way the broad market will appreciate it.
Thanks for letting me share some of these tips with you today. If you have any questions at all, feel free to give me a call or send me an email. I would be glad to answer them for you.
